BETTER BUSINESS ENVIRONMENT

Moreover, foreign companies can now invest in more diverse businesses in China. In the past, the vast majority of investments were confined to the export manufacturing sector, but today manufacturing represents only two fifths of foreign investment inflow, while the service sector share is now over half of new FDI inflow.

The recent string of reforms - the Shanghai pilot free trade zone (FTZ), experimenting with the "negative list" approach, opening up more service sectors and reducing government approval requirements - has helped bolster investor confidence and improved the business environment.

Lured by better trade, investment and administrative rules, about 100 companies have registered in the FTZ every day since September, according to the FTZ managers.

Yang Xiong, mayor of Shanghai, said earlier this week that the "negative list" identifying bans or restrictions on foreign investment in the FTZ will be shorter in its 2014 incarnation.

Nationwide, newly registered businesses increased by 27.6 percent last year, and private investment was up to 63 percent of total investment.

"We are all sharing the fruits of fast economic growth," commented Bian Chenggang, General Manager of Intel Products (Chengdu) Ltd..

By the end of December 2013, 252 Fortune 500 companies had set up branches in Chengdu, capital of southwest China's Sichuan Province. Last year alone, an additional 22 Fortune 500 companies settled in the city.